Gbpaudsell
(Sell) GBPAUD Technical Analysis for April 19, 2018Hello Traders,
If anything, I really think it is the best time to buy some AUD, earn some positive swaps and hold this for a long time. Why? Well, we can take a top down approach and consider some technical formation first from the weekly chart. First, notice that since last year GBP has been charting higher and in this pair, it is a 1000 pips away from recovering post Brexit collapse. As you saw in 2016, that GBP depreciation was vicious. At the moment though, basing our decision on technical formation we have a reason to resume selling. To begin with, there is a clear distribution and not only are sellers (AUD buyers) expanding but look at those lower lows and diversion relative to the upper BB. Fact is, GBPAUD has been moving horizontally since following that over-extension by late March 2018.
Like the weekly chart, there is a stochastic sell signal turning from deep the overbought territory. That’s not all, yesterday’s bearish engulfing pattern would be a good hint of sell pressure. Indeed, because of that drop we saw prices breaking below a minor support trend line. Because of this, my recommendation is simple, sell GBP and trade GBPAUD as follows:
Sell: 1.819
Stop Loss: 1.83
Take Profit: 1.79, 1.758, 1.71 and 1.66
Let me know what you think!! Have a good trading day.
This TA was originally published by Dalmas Ngetich at Forex.Today
>> GBPAUD << March 11th >> Short „Breakout“ Setup <<Hey Guys and Welcome,
GBPAUD broke previous week Lows, we are following „short“-term Trend with a good RR.
Very bearish Price action last two weeks, following this drop expecting another bigger drop...
Short: 1.76342
Sl: 1.76976 (60 Pips)
Tp1: 1.75657 (60 Pips)
Tp2: 1.74746 (160 Pips)
Feel free to Comment and Discuss my Trades.
Have a Great Week!
Alan
GBPAUD testing major resistance, watch for a reversal
GBPAUD is testing major resistance at 1.7974 (Fibonacci extension, horizontal swing high resistance, bearish price action, bearish divergence) and a strong reaction could occur at this level to drive price down to 1.7439 support (Fibonacci retracement, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance at 96% and a corresponding reaction could occur at this level. We can only see bearish divergence vs price signaling that a potential reversal is impending.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
GBPAUD approaching major resistance, prepare for a strong reactiGBPAUD is approaching major resistance at 1.7974 (ABC Fibonacci extension, 61.8% Fibonacci extension, horizontal swing high resistance) and a strong reaction could occur at this level to push price down towards 1.7439 (Fibonacci retracement, Fibonacci extension, horizontal swing low support).
Stochastic (34,5,3) is seeing major resistance below 96% where a corresponding reaction could occur.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully understand the risks.
Sell GBPAUD Longterm Based On Multiple Factors on H4 + Daily TFThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
GBPAUD at crucial resistanceSimple chart on GBPAUD 1 hour time frame. This resistance has be tested 3 times so far. Keep a close eye on a possible break-out. The current candle seems to close at the resistance. If it gets rejected again it will be an easy 80-120 move down. So keep an eye on it because of the 1 hour candle closes above it then its a buy ofcourse.
GBPAUD 200 pips setupGBPAUD is still fighting the same resistance and seems to fail to break it. It's now a nice opportunity to sell it with a stop a bit above the resistance. All though the focus now is on selling, a good break of this resistance will be a buying opportunity, so keep your stop in place and be versatile and ready to buy. But for now sell.
Open: around 0.7124
TP: 1.6880
SL: 0.7170
Sell GBPAUD Short Term Based on H1 + H4 TimeframeThis research is for informational purposes and should not be construed as personal advice. Trading any financial market involves risk. Trading on leverage involves risk of losses greater than deposits.
Please comment below and Like if you agree with my analysis.
GBPAUD wait for break outGBPAUD is close to the lower range and also close to a resistance at which price got rejected twice in the past. A break out of either the resistance of a lower range will likely be followed by a strong 300-500 pip move in a couple of days (since its the daily time frame)
Keep a close eye on GBPAUD and act when theres a break-out. I shall try to update this idea with Trade Active when the break-out happens so you can follow.